₦airaland Forum

STATE HOUSE PRESS RELEASE
OFFICE OF THE VICE PRESIDENT

PRESIDENT BUHARI APPROVES FORMATION OF TRILLION NAIRA COMPANY TO ADDRESS INFRASTRUCTURE DEFICIT

President Muhammadu Buhari has approved the establishment of a Public Private Partnership styled Infrastructure company named Infra-Co with an initial seed capital of N1 Trillion.

It is envisaged that, over time, the entity will grow to N15 Trillion in assets and capital.

Infra-Co will be one of the premier infrastructure finance entities in Africa and will be wholly dedicated to Nigeria’s infrastructure development. The entity has been developed with concept designs from the National Economic Council (NEC) and the Central Bank of Nigeria.

The President had asked Vice President Yemi Osinbajo, SAN, to chair a Steering Committee tasked with setting up the company.

The initial seed capital for the entity will come from the Central Bank of Nigeria, the Nigerian Sovereign Investment Authority, NSIA, and the Africa Finance Corporation.

The board of Infra-Co will be chaired by the Central Bank Governor and include the Managing Director of the Nigerian Sovereign Investment Authority, President of the Africa Finance Corporation, as well as representatives of the Nigerian Governors Forum, and the Ministry of Finance, Budget and National Planning. The Board will also have 3 independent directors from the private sector.

To address Nigeria's infrastructure deficit, the Buhari Administration continues to explore innovative options, including through financing initiatives such as the Presidential Infrastructure Development Fund (PIDF) designed to cater for the 2nd Niger Bridge, the Abuja-Kaduna-Zaria-Kano Expressway, and other projects.

There is also the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme which is being used for the funding of the Bodo-Bonny Bridges and Road (with the Nigeria Liquefied Natural Gas, NLNG), and the Apapa-Oshodi-Oworonshoki Expressway (with Dangote Group), among others.

Infra-Co will finance public asset development, rehabilitation and reconstruction as well as invest in cutting edge infrastructure projects for Roads, Rail, Power and other key sectors.

Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
12th February, 2021

https://www.google.com/amp/s/punchng.com/buhari-approves-establishment-of-firm-to-tackle-infrastructure-deficit/%3famp=1

Source

This is a welcome development, this administration is performing excellently well in improving our infrastructure, but there is serious need to work on our security challenges because FDI can not be achieved if the infrastructure is there and security challenge remains the problem,they wont feel safe at all to come invest in Nigeria

A nice innovation to bridge our massive infrastructure deficit.

PrinceDz:
Source

you are seeing a press statement from ovp, you are still asking for source... no be only source, its ketchup

Nice one

Good idea but the problems will be the idea surviving successive governments, good management (to avoid it becoming NDDC), and extent of involvement in projects implementation to curtail corruption.

Anything to improve our infrastructure has my support.

In case you don't read the content, Buhari Approves the Establishment of PPP styled Infrastructure Company with an Initial Seed Capital of N1trn envisaged To Grow to N15Trn Over time in Assets and Capital

All things being equal, hopefully, this initiative would propel nigeria to greater heights. Even Dubai and SA would be a child's play.

Jollylolly:
This is a welcome development, this administration is performing excellently well in improving our infrastructure, there is serious need to work on our security challenges because FDI can not be achieved if the infrastructure is there and security challenge remains the problem,they wont feel safe at all to invest to come and invest in Nigeria

Intelligent lady Why no picture in your profile? Be nice to put a face to the erudite writing

Great initiative . Excellent to see our able VP is assisting PMB well and still pushing forward an agenda of infrastructural development despite our serious security challenges.

Nonetheless, overall socio-economic development cannot be achieved without security of lives and property. Comprehensive solutions are required in that regard asap.

OneTemplate:
Intelligent lady Why no picture in your profile? Be nice to put a face to the erudite writing

G

President Muhammadu Buhari has approved the establishment of a Public Private Partnership styled Infrastructure company named Infra-Co with an initial seed capital of N1 Trillion.

It is envisaged that, over time, the entity will grow to N15 Trillion in assets and capital.

Infra-Co will be one of the premier infrastructure finance entities in Africa and will be wholly dedicated to Nigeria’s infrastructure development

This is a very welcome development.
This is the CHANGE we voted for.
Slow and steady we will get to the country of our dreams.

God bless our darling Daddy President Muhammadu Buhari and his amiable Vice president Prof Yemi Osinbajo as they make our once looted and vandalized nation work again.

God bless Nigeria.

Jollylolly:
''What shall e profit a man who always feel sad when good news is spread but feel joyous when bad news is spread

That is the life enemies of Nigeria, AKA, Children of hate and perdition have chosen to live everyday of their miserable lives,
Fortunately, there is nothing we can do about it.
That is why they are always bitter and wailing everyday of their frustrated lives.
Supporters of looters dem.

The ones on ground you have never been able to manage them to work optimally no to creat new ones. All na to fix him abokis and Fulani tribesmen.

I can bet my left balls the company is 'owned' by one of them to siphon public funds as usual.

Liposure:
Hopefully, all things being equal, this initiative would propel nigeria to greater heights. Dubai and SA would be a child's play.

So shall it be

[s]

OneTemplate:
Great initiative . Excellent to see our able VP is assisting PMB well and still pushing forward an agenda of infrastructural development despite our serious security challenges.

Nonetheless, overall socio-economic development cannot be achieved without security of lives and property. Comprehensive solutions are required in that regard asap.

post=98989751]Truer words have never been spoken.
You have said the truth.
Stay blessed.[/quote][quote author=Jollylolly:
This is a welcome development, this administration is performing excellently well in improving our infrastructure, but there is serious need to work on our security challenges because FDI can not be achieved if the infrastructure is there and security challenge remains the problem,they wont feel safe at all to come invest in Nigeria

[/s]

S

Jollylolly:
https://www.google.com/amp/s/punchng.com/buhari-approves-establishment-of-firm-to-tackle-infrastructure-deficit/%3famp=1

Where will the money come from?

This is another avenue to plunder our common wealth. Nigerians, ignore our leaders and learn how you will be making millions of naira from export business. For details, click on the first link on my signature.

Jollylolly:
This is a welcome development, this administration is performing excellently well in improving our infrastructure, but there is serious need to work on our security challenges because FDI can not be achieved if the infrastructure is there and security challenge remains the problem,they wont feel safe at all to come invest in Nigeria

Truer words have never been spoken.
You have said the truth.
Stay blessed.

Noted

Audio approval una 1Trillion done enter voicemail be that

For who.

To be located in Aboki land abi

TheRareGem1:
In case you don't read the content, Buhari Approves the Establishment of PPP styled Infrastructure Company with an Initial Seed Capital of N1trn envisaged To Grow to N15Trn Over time in Assets and Capital

Thanks for spelling it out.
You are a rare gem.

YorubaPrince:
I can bet my left balls the company is 'owned' by one of them to siphon public funds as usual.

If you lose the left one, the right one go still dey one corner sha.
Abeg, bet d 2 balls biko....if e sure for u, why bet only one ball

AlphaAlex:
Audio approval una 1Trillion done enter voicemail be that